About two months after President Goodluck Jonathan directed cement manufacturers in Nigeria to reduce the price of the commodity, Dangote Cement Plc has reduced the factory price of its product from N1,500 to N1,350 per bag.
A 50-kg bag of the product currently sells for N2,300 in the open market in Lagos, a steep rise from the N1,800 for which it was sold in January.
The company’s Executive Director in charge of Sales and Marketing, Ekanem Etim, who disclosed this at the weekend while addressing cement distributors, told them of the reduction in its ex-factory price, in line with the company’s declared policy to make cement affordable to the masses as it expands its local capacity in the country.
Etim also informed the distributors that the country will be self-sufficient, especially with the commissioning of Ibeshe Plant of the company before the end of the year, with an installed capacity of six million metric tonnes of cement per annum.
Reacting to the price reduction by the Dangote Group, Executive Secretary of Cement Manufacturers Association of Nigeria (CMAN), James Salako, said Dangote has done well by bringing its prices down for the benefit of the masses, in line with the objectives of CMAN.
Dangote Cement currently has presence in Zambia, Tanzania, South Africa, Congo (Brazzaville), Ethiopia, Cameroun (Grinding), Sierra Leone, Ivory Coast, Liberia, Ghana and Senegal, among others.